Defined Benefits

Two Rhode Island communities will be allowed to use about $70 million forfeited by Google Inc. to fix their police pension shortfalls, funding them almost fully.

A major credit rating agency has soured on the economic forecast for Illinois after another failed attempt this week to rectify the $96 billion pension system deficit.

A $1.8-billion Australian pension fund for pulp, paper and furniture workers has opted to pull out its holdings in Rupert Murdoch's News Corp., citing desires for a more independent board of directors.

The nation's largest public employee retirement system managed to eke out a rather awful 0.14-percent net return on its investments in the 2011-2012 fiscal year.

Pension asset portfolios gained 9.3 percent in 2012, but declining discount rates drove the funded ratio of pension plans lower.

Near all-time-low interest rates are creating massive demand for pension bond issues that have offered some very strong yields to investors - and relief to retirees.

The Illinois House has adjourned its lame-duck session without taking action to solve the state's multibillion pension problem.

The mayors of Kentucky's two largest cities called on state lawmakers Monday to enact reforms that would help curb pension obligations that are crippling budgets in Lexington and Louisville.